Harper Government Celebrates National Philanthropy Day by Highlighting Tax Breaks for Charitable Donations

The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, today celebrated National Philanthropy Day by applauding the many Canadians across the country who choose to donate to charities and is encouraging them to take advantage of the tax credits available for eligible charitable donations.

Minister Findlay particularly highlighted the benefits of the first-time donor's super credit. The new temporary donor super credit provides an extra 25 percent federal credit on top of the original charitable donation tax credit. This means that eligible first-time donors can get a 40 percent federal credit for monetary donations of $200 or less, and a 54 percent federal credit for the portion of donations that are over $200 up to a maximum of $1,000. The donor super credit applies to donations made after March 20, 2013, and can only be claimed once between 2013 and 2017. This is in addition to the provincial credits available.

Those who have donated before can still be eligible for the charitable donation tax credit, a non-refundable tax credit which allows taxpayers to claim eligible amounts of gifts to a limit of 75% of their net income. For a quick estimate of your charitable tax credit for the current tax year, try the charitable donation tax credit calculator.

Minister Findlay also reminded Canadians that only Canadian registered charities and other qualified donees can issue official donation tax receipts. To find out if an organization is registered, taxpayers can go to the Canada Revenue Agency's (CRA) website and search the Charities Listings at cra.gc.ca/charitylists.

For more information about donating, such as how to calculate and claim the charitable tax credit, go to cra.gc.ca/donors.

Quick Facts

- Two years ago, Canada became the first country in the world to officially recognize November 15 as National Philanthropy Day.

- There are more than 85,000 registered charities in Canada. What's the benefit of being a registered charity? Registration provides charities with exemption from income tax.

- According to Statistics Canada, in 2010 almost half of all Canadians volunteered, giving more than two billion hours of their time. In addition, in 2012, 5.6 million tax filers reported charitable donations for a total of $8.3 billion in donations reported.

- According to Statistics Canada, in 2012 the average age of charitable donors across the provinces and territories is 53 years old.

Quotes

"As the regulator of charities, the CRA recognizes the important role charities play in communities across the country: from helping to build homes, to supporting medical research, and lending a helping hand to people in need. The money, time, and effort Canadians donate to these causes help improve the lives of many. To celebrate National Philanthropy Day, I encourage all Canadians to reflect on the charities that have had an impact in their communities and consider donating to continue this important work. "

"In 2013, our Government implemented new legislation to encourage more Canadians to donate-and they are doing so in droves! As of July 2014, more than 95,000 individuals have claimed over $20 million in charitable donations using the First-Time Donor's Super Credit. This credit provides an extra 25% credit when an eligible charitable donation tax credit is claimed. This means that a taxpayer can get a 40% credit for donations of $200 or less, and a 54% credit for the portion of donations that are over $200 up to $1,000. I encourage all Canadians to continue to donate generously to causes that are close to their heart."